Great Plains Energy. First Quarter 2011 Earnings Presentation. May 6, First Quarter 2011 Earnings
|
|
- Bonnie Heath
- 6 years ago
- Views:
Transcription
1 Great Plains Energy First Quarter 2011 Earnings Presentation May 6, 2011
2 Forward-Looking Statement Statements made in this presentation that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, the outcome of regulatory proceedings, cost estimates of capital projects and other matters affecting future operations. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Great Plains Energy and KCP&L are providing a number of important factors that could cause actual results to differ materially from the provided forward-looking information. These important factors include: future economic conditions in regional, national and international markets and their effects on sales, prices and costs, including but not limited to possible further deterioration in economic conditions and the timing and extent of any economic recovery; prices and availability of electricity in regional and national wholesale markets; market perception of the energy industry, Great Plains Energy and KCP&L; changes in business strategy, operations or development plans; effects of current or proposed state and federal legislative and regulatory actions or developments, including, but not limited to, deregulation, re-regulation and restructuring of the electric utility industry; decisions of regulators regarding rates the companies can charge for electricity; adverse changes in applicable laws, regulations, rules, principles or practices governing tax, accounting and environmental matters including, but not limited to, air and water quality; financial market conditions and performance including, but not limited to, changes in interest rates and credit spreads and in availability and cost of capital and the effects on nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of terrorist acts; ability to carry out marketing and sales plans; weather conditions including, but not limited to, weather-related damage and their effects on sales, prices and costs; cost, availability, quality and deliverability of fuel; the inherent uncertainties in estimating the effects of weather, economic conditions and other factors on customer consumption and financial results; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; delays in the anticipated in-service dates and cost increases of additional generation, transmission, distribution or other projects; the inherent risks associated with the ownership and operation of a nuclear facility including, but not limited to, environmental, health, safety, regulatory and financial risks; workforce risks, including, but not limited to, increased costs of retirement, health care and other benefits; and other risks and uncertainties. This list of factors is not all-inclusive because it is not possible to predict all factors. Other risk factors are detailed from time to time in Great Plains Energy s and KCP&L s quarterly reports on Form 10-Q and annual report on Form 10-K filed with the Securities and Exchange Commission. Each forward-looking statement speaks only as of the date of the particular statement. Great Plains Energy and KCP&L undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 2
3 Great Plains Energy First Quarter 2011 Earnings Presentation May 6, 2011 Michael J. Chesser Chairman and CEO 3
4 Senior Executive Change Key Elements of 1Q11 Results - KCP&L Missouri Rate Case Impacts - Organizational Realignment and Voluntary Separation Program Charges - Regulatory Lag Fuel (KCP&L MO) and Property Tax - Customer Consumption Wolf Creek EPA Pronouncements CEO Discussion Completion of Missouri Rate Cases and Comprehensive Energy Plan 4
5 Strong Track Record of Execution Wind Comprehensive Energy Plan Project Description 100 MW plant in Spearville, KS Began construction in 2005 Comments Completed in Q In rate base from 1/1/2007 No regulatory disallowance LaCygne Environmental Iatan 1 Environmental Iatan 2 Selective Catalytic Reduction (SCR) unit at LaCygne 1 Air Quality Control System at Iatan 1 Construction of Iatan 2 super-critical coal plant (850 MW; 73% GXP ownership share) 1 Completed in Q In rate base from 1/1/2008 No regulatory disallowance Completed in Q Included in KCP&L KS, KCP&L MO and GMO rate base with minimal disallowance In-service on 8/26/2010; Included in KCP&L KS, KCP&L MO and GMO rate base with minimal (1%) disallowance Great Plains Energy effectively executed all elements of its Comprehensive Energy Plan and received constructive regulatory treatment 1 Includes post-combustion environmental technologies including an SCR system, wet flue gas desulphurization system and fabric filter to control emissions 5
6 William H. Downey Executive Vice Chairman 6
7 KCP&L Missouri Rate Case Results Annual Revenue Increase of $34.8 Million or 5.25% (vs. Updated Company Request of $66.5 million) Effective May 4, % Authorized ROE (vs. Updated Company Request of 10.75%); Equity Ratio of 46.3% Iatan 2 in Service and Added to Rate Base - Total Project Disallowance of $21.1 million ($6.2 million for KCP&L Missouri Jurisdictional Share) or ~1 Percent of Total Project Cost Minimal Iatan 1 Environmental Project Disallowance KCP&L Missouri Jurisdictional Rate Base of $2.036 billion Off-System Sales Margin Threshold Set at $45.9 Million Missouri Jurisdictional Share - Compares to Updated Company Request of $29.4 million 7
8 GMO Rate Case Results Order Issued May 4, 2011 Staff Report Outlining Rate Increase Details Not Yet Issued Same ROE and Equity Ratio as KCP&L Iatan 2 Same Total Project Disallowance as in KCP&L s Case; $3.8 Million for GMO s Jurisdictional Share Minimal Iatan 1 Environmental Project Disallowance Disallowances related to Crossroads Energy Center Approximately $50 Million of Asset Cost Removed from Rate Base About $5 million of Related Transmission Costs Excluded from Cost of Service 8
9 Terry Bassham President and COO 9
10 Operations Update LaCygne Predetermination Filing Update Plant Performance Recent EPA Proposals (HAPs/MACT, Water Intake Structures) Customer Consumption 10
11 Kansas Predetermination Filing Update Coal Unit MW SCR Scrubber Bag House Particulate Control Mercury Controls Cooling Tower LaCygne (a) (b) (c) LaCygne (a) (d) (a) KCP&L s share of jointly-owned facility (b) LaCygne 1 currently has a scrubber installed; however, capital expenditure plan includes the installation of a new scrubber on the unit (c) Existing scrubber removes particulate matter but will be replaced by the baghouse (d) Existing precipitator will be replaced by the baghouse Installed Installation of this equipment is scheduled to begin during the period covered by the capital expenditure plan Not installed Project includes the installation of: LaCygne 1 Wet scrubber, baghouse, activated carbon injection LaCygne 2 Selective Catalytic Reduction system (SCR), wet scrubber, baghouse, activated carbon injection and low NOx burners Predetermination filing is for total project cost of $1.23 billion; KCP&L s total share is $615 million and Kansas jurisdictional share is $281 million Filing includes request for a LaCygne project-specific rider Predetermination case proceeding in parallel with KCC general investigation docket concerning environmental retrofits Decision in predetermination filing expected in August
12 Plant Performance Coal and Nuclear Combined Fleet 100% 90% There needs to be some separation between the coal bars and the nuclear bars for each period.. 90% 80% 80% 70% 70% 60% 60% 50% Q Q Equivalent Availability 74% 78% Coal Capacity Factor Coal 64% 71% Equivalent Availability 86% 92% Nuclear Capacity Factor Nuclear 87% 93% 50% Q Q Equivalent 75% 80% Availability Capacity Factor 67% 74% 12
13 Recent EPA Ruling and Proposals Industrial Boiler Maximum Achievable Control Technology (MACT) Rule EPA final rule issued in February 2011 Applies to most of GMO s Lake Road boilers and auxiliary boilers at other generating facilities Expected cost of compliance for this rule and the currently effective CAIR and BART is approximately $1 billion Utility Boiler MACT Rule EPA proposed rule issued in March 2011; plans to issue final rule by November 2011 Proposed rule will impact all KCP&L and GMO coal plants If final rule is as proposed: Potential retrofit of about 1,250 MW of baseload coal generation. Expected cost of compliance to be within the approximate $1 billion estimate referenced above Potential retirement of older units totaling about 535 MW Final rule is expected to change from the current form Section 316(B) Rule Water Intake Structures EPA proposed rule issued in March 2011; plans to issue final rule by July 2012 Proposed rule applicable to most KCP&L and GMO coal units If cooling towers are ultimately required, projected compliance costs would likely be significant; however, this is not likely Current form of proposed rule by itself would not be expected to lead to retirements Final rule is likely to change from the current form 13
14 Customer Consumption Retail MWh Sales and Customer Growth Rates 1Q 2011 Compared to 1Q 2010 Weather-Normalized Total Change in MWh Sales Customers Use / Customers Change MWh Sales Residential (4.0%) (0.1%) (5.7%) (5.8%) Commercial (1.3%) 0.3% (2.0%) (1.7%) Industrial (0.0%) (0.9%) 1.1% 0.1% (2.2%) 0.0%* (3.1%)* (3.2%)* * Weighted average Statistics by Customer Class First Quarter 2011 Customers Revenue (in millions) Sales (000s of MWhs) % of MWh Sales Residential 725,500 $ ,437 42% Commercial 96, ,589 45% Industrial 2, % 14
15 KC Metropolitan Economy Key Indicators January 2002 March $80,000 $78,000 $76,000 $74,000 $72,000 $70,000 $68,000 $66,000 $64,000 $62,000 Personal Income* Income Unemployment* 8.5% $76,745 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Housing Starts: Single Family* $92 $90 $88 $86 $84 $82 $80 $78 $76 $74 $72 $70 Gross Metro Product (GMP)* Housing Starts GMP (Billion) Unemployment Rate Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 1,940 $89.3 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 *Source: Moody s 15
16 Financial Overview James C. Shay Senior Vice President - Finance & Strategic Planning and CFO 16
17 Great Plains Energy Consolidated Earnings and Earnings Per Share Three Months Ended March 31 (Unaudited) Earnings (in Millions) Earnings per Share Electric Utility $ 7.0 $ 24.9 $ 0.05 $ 0.18 Other (4.7) (4.6) (0.04) (0.03) Net income Less: Net loss attributable to noncontrolling interest Net income attributable to Great Plains Energy Preferred dividends (0.4) (0.4) - - Earnings available for common shareholders $ 2.0 $ 19.9 $ 0.01 $ 0.15 Electric Utility s net income decreased $17.9 million including an $8.4 million decrease in gross margin* Common stock outstanding for the quarter averaged million shares, about 1 percent higher than the same period in 2010 *Gross margin is defined and reconciled to GAAP operating revenues at the end of the presentation 17
18 Electric Utility First Quarter Results (in millions) Earnings Earnings Per Share Key Earnings Drivers $24.9 Decreased depreciation and amortization of $9.8 million primarily driven by a reduction of KCP&L s regulatory amortization in Kansas; Decreased income tax expense of $10.7 million resulting from lower pre-tax income; $7.0 $0.18 Decreased gross margin* of $8.4 million due to a $5.7 million reduction in retail revenue from reduced customer consumption and $4.6 million of increased coal transportation costs not recovered in KCP&L Missouri retail rates where there is no fuel recovery mechanism; 1Q '11 1Q '10 $0.05 1Q ' 11 1Q '10 Increased other operating expenses of $12.4 million primarily driven by $6.9 million loss attributed to Iatan 1 and 2 construction costs plus other costs resulting from the Missouri rate case orders and a $4.0 million increase in general taxes principally related to property taxes at Iatan 2; * Gross margin is defined and reconciled to GAAP operating revenues at the end of the presentation A $9.7 million expense for the voluntary separation program; and Decreased non-operating income and expenses of $9.8 million primarily due to lower AFUDC equity 18
19 Factors Impacting 2011 Weather-Normalized MWh Sales Initial full-year guidance 0.7% growth Current view is essentially flat given 3.2% decline in 1Q Expenses Associated with Voluntary Separation Program $0.04 EPS impact in 1Q $0.02 EPS impact to be recognized in 2Q Missouri Rate Case-Related Expenses $0.03 EPS impact in 1Q Currently assessing impacts of GMO order 19
20 Debt Profile as of March 31, 2011 Great Plains Energy Debt ($ in millions) KCP&L GMO (1) GPE Consolidated Amount Rate (2) Amount Rate (2) Amount Rate (2) Amount Rate (2) Short-term debt $ % $ % $ % $ % Long-term debt (3) 1, % % % 3, % Total $2, % $1, % $ % $3, % Secured debt = $861.5 (22%), Unsecured debt = $3,022.3 (78%) (1) GPE guarantees substantially all of GMO s debt (2) Weighted Average Rates excludes premium / discounts and fair market value adjustments; includes full Equity Units coupon (12%) for GPE (3) Includes current maturities of long-term debt Long-term Debt Maturities $600 Debt ($ in millions) $500 $400 $300 $200 $100 $ Maturity GPE KCP&L GMO 20
21 Credit Profile for Great Plains Energy FFO / Adjusted Debt* FFO Interest Coverage* 20.0% 10.0% 0.0% 16.5% 15.6% 9.1% 6.2% LTM** LTM** 60% 55% 50% 45% Adjusted Debt / Total Adjusted Capitalization* 60.3% 56.7% 56.3% 56.8% Q 2011 * All ratios calculated using Standard and Poor s methodology ** Last twelve months as of March 31, 2011 Current Credit Ratings Great Plains Energy Moody's Standard & Poor's Outlook Corporate Credit Rating Stable - Stable BBB Preferred Stock Senior Unsecured Debt Ba2 Baa3 BB+ BBB- KCP&L Outlook Senior Secured Debt Stable A3 Stable BBB+ Senior Unsecured Debt Commercial Paper Baa2 P-2 BBB A-2 GMO Outlook Senior Unsecured Debt Stable Baa3 Stable BBB 21
22 Great Plains Energy First Quarter 2011 Earnings Presentation May 6,
23 Great Plains Energy Incorporated Reconciliation of Gross Margin to Operating Revenues (Unaudited) (millions) Three Months Ended March Operating revenues $ $ Fuel (104.9) (101.8) Purchase power (54.9) (65.5) Transmission of electricity by others (7.5) (5.6) Gross margin $ $ Gross margin is a financial measure that is not calculated in accordance with generally accepted accounting principles (GAAP). Gross margin, as used by Great Plains Energy, is defined as operating revenues less fuel, purchased power and transmission of electricity by others. The Company s expense for fuel, purchased power and transmission of electricity by others, offset by wholesale sales margin, is subject to recovery through cost adjustment mechanisms, except for KCP&L s Missouri retail operations. As a result, operating revenues increase or decrease in relation to a significant portion of these expenses. Management believes that gross margin provides a more meaningful basis for evaluating the Electric Utility segment s operations across periods than operating revenues because gross margin excludes the revenue effect of fluctuations in these expenses. Gross margin is used internally to measure performance against budget and in reports for management and the Board of Directors. The Company s definition of gross margin may differ from similar terms used by other companies. A reconciliation to GAAP operating revenues is provided in the table above. 23
BRIGHT FIRST QUARTER 2017 BUSINESS UPDATE AND EARNINGS REVIEW. May 4, 2017 OUR ENERGY FUTURE
BRIGHT OUR ENERGY FUTURE FIRST QUARTER 2017 BUSINESS UPDATE AND EARNINGS REVIEW May 4, 2017 Presented by: Terry Bassham Chairman, President and CEO Kevin Bryant SVP Finance and Strategy and CFO FORWARD-LOOKING
More informationSecond Quarter 2018 Earnings Call. August 9, 2018
Second Quarter 2018 Earnings Call August 9, 2018 Important Information Forward Looking Statements Statements made in this presentation that are not based on historical facts are forward-looking, may involve
More informationFIRST QUARTER 2018 BUSINESS AND FINANCIAL UPDATE
FIRST QUARTER 2018 BUSINESS AND FINANCIAL UPDATE May 3, 2018 Presented by: Terry Bassham Chairman, President and CEO Kevin Bryant SVP Finance and Strategy and CFO 1 FORWARD-LOOKING STATEMENTS Statements
More informationMerger Approval Update
Merger Approval Update March 12, 2018 Investor Update Forward-Looking Statements Statements made in this presentation that are not based on historical facts are forward-looking, may involve risks and uncertainties,
More informationJune 19, 2015 Investor Presentation
Forward-Looking Statement Statements made in this presentation that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when
More informationInvestor Update. March 2019
Investor Update March 2019 Important Information Forward Looking Statements Statements made in this presentation that are not based on historical facts are forward-looking, may involve risks and uncertainties,
More informationOUR FUTURE FOCUS GREAT PLAINS ENERGY EEI INVESTOR PRESENTATION
OUR FUTURE FOCUS GREAT PLAINS ENERGY EEI INVESTOR PRESENTATION November 2016 FORWARD-LOOKING STATEMENTS Statements made in this report that are not based on historical facts are forward-looking, may involve
More informationWESTAR ENERGY AND GREAT PLAINS ENERGY ANNOUNCE MERGER OF EQUALS TO FORM LEADING MIDWEST ENERGY COMPANY. July 10, 2017
WESTAR ENERGY AND GREAT PLAINS ENERGY ANNOUNCE MERGER OF EQUALS TO FORM LEADING MIDWEST ENERGY COMPANY July 10, 2017 FORWARD-LOOKING STATEMENTS Statements made in this presentation that are not based on
More informationInvestor Update. October 2018
Investor Update October 2018 Important Information Forward Looking Statements Statements made in this presentation that are not based on historical facts are forward-looking, may involve risks and uncertainties,
More informationWestar Energy and Great Plains Energy
Westar Energy and Great Plains Energy MERGER OF EQUALS TO FORM LEADING ENERGY COMPANY 2017 Edison Electric Institute Financial Conference November 5-8, 2017 FORWARD-LOOKING STATEMENTS Statements made in
More information1st Quarter Earnings Call May 5, 2011
1st Quarter Earnings Call May 5, 2011 Bill Johnson Mark Mulhern Chairman, President & CEO Chief Financial Officer Caution Regarding Forward-Looking Statements This presentation contains forward-looking
More informationOUR FUTURE FOCUS GREAT PLAINS ENERGY INVESTOR PRESENTATION
OUR FUTURE FOCUS GREAT PLAINS ENERGY INVESTOR PRESENTATION June 2016 FORWARD-LOOKING STATEMENTS Statements made in this communication that are not based on historical facts are forward-looking, may involve
More informationQ Earnings Review August 9, 2016
Q2 2016 Earnings Review August 9, 2016 Safe Harbor Statement Statements made in this presentation that relate to future events or PNM Resources, Inc. s ( PNMR ), Public Service Company of New Mexico s
More informationEdison Electric Institute 45 th Financial Conference
Edison Electric Institute 45 th Financial Conference Palm Desert, California November 1-2, 2010 Safe Harbor for Forward- Looking Statements Caution Regarding Forward-Looking Information: This presentation
More information1 st Quarter 2018 Earnings Conference Call. April 25, 2018
1 st Quarter 2018 Earnings Conference Call April 25, 2018 Safe Harbor Statement Many factors impact forward-looking statements including, but not limited to, the following: impact of regulation by the
More information4TH QUARTER AND FULL-YEAR 2013 RESULTS. February 21, 2014
4TH QUARTER AND FULL-YEAR 2013 RESULTS February 21, 2014 FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains forward-looking statements based on current expectations,
More information2016 Earnings Guidance
2016 Earnings Guidance December 18, 2015 Safe Harbor Statement Statements made in this presentation that relate to future events or PNM Resources ( PNMR ), Public Service Company of New Mexico s ( PNM
More information3Q 2018 Earnings Conference Call. October 24, 2018
3Q 2018 Earnings Conference Call October 24, 2018 Safe Harbor Statement Many factors impact forward-looking statements including, but not limited to, the following: impact of regulation by the EPA, the
More informationWestar Energy, Inc Year-End Earnings. Released March 13, 2006
Westar Energy, Inc 2005 Year-End Earnings Released March 13, 2006 Contents Page Income statements 1 Balance sheets 3 Statements of cash flows 4 Earnings variances 5 Supplemental data 7 Bruce Burns Director
More informationSeptember Investor Meetings aep.com. 4th Quarter 2018 EARNINGS RELEASE PRESENTATION January 24, 2019
September Investor Meetings aep.com 4th Quarter 2018 EARNINGS RELEASE PRESENTATION January 24, 2019 1 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation
More informationEdison Electric Institute Annual Finance Meeting May 2007
Edison Electric Institute Annual Finance Meeting May 2007 Cautionary Statements Regulation G Statement Ameren has presented certain information in this presentation on a diluted cents per share basis.
More information2 nd Quarter 2017 Earnings Release Presentation. July 27, 2017
2 nd Quarter 2017 Earnings Release Presentation July 27, 2017 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements within
More informationBusiness Update. April 10-11, 2018
Business Update April 10-11, 2018 Safe Harbor Statement Many factors impact forward-looking statements including, but not limited to, the following: impact of regulation by the EPA, the FERC, the MPSC,
More information4th Quarter 2011 Earnings & 2012 Guidance Call February 16, 2012
Bill Johnson Chairman, President & CEO 4th Quarter 2011 Earnings & 2012 Guidance Call February 16, 2012 Mark Mulhern Chief Financial Officer Caution Regarding Forward-Looking Statements This presentation
More information4 th Quarter 2013 Earnings Release Presentation January 27, 2014
4 th Quarter 2013 Earnings Release Presentation January 27, 2014 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements within
More informationLehman Brothers CEO Energy/Power Conference September 5, 2007
Lehman Brothers CEO Energy/Power Conference September 5, 2007 Cautionary Statements Regulation G Statement Ameren has presented certain information in this presentation on a diluted cents per share basis.
More informationPPL CORPORATION Poised for growth. Investing in our future.
PPL CORPORATION Poised for growth. Investing in our future. 2nd Quarter Earnings Call August 3, 2017 Cautionary Statements and Factors That May Affect Future Results Any statements made in this presentation
More informationSeptember Investor Meetings aep.com. 3rd Quarter 2018 EARNINGS RELEASE PRESENTATION October 25, 2018
September Investor Meetings aep.com 3rd Quarter 2018 EARNINGS RELEASE PRESENTATION October 25, 2018 1 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation
More information40 th Annual EEI Finance Conference
40 th Annual EEI Finance Conference Hollywood, FL November 6-8, 2005 Forward-Looking Statements Disclosure The following presentation contains some forward-looking statements with respect to Westar Energy
More information4th Quarter Earnings Call. PPL Corporation February 4, 2016
4th Quarter Earnings Call PPL Corporation February 4, 2016 Cautionary Statements and Factors That May Affect Future Results Any statements made in this presentation about future operating results or other
More informationFIRST QUARTER 2014 RESULTS. May 2, 2014
FIRST QUARTER 2014 RESULTS May 2, 2014 FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains forward-looking statements based on current expectations, including statements
More information1 st Quarter 2018 Earnings Release Presentation
1 st Quarter 2018 Earnings Release Presentation April 26, 2018 1 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements within
More information2013 ANNUAL REPORT A TRUSTED ENERGY PARTNER
2013 ANNUAL REPORT A TRUSTED ENERGY PARTNER Selected Financial Data Year Ended December 31 2013 2012 2011 2010 2009 (Dollars in millions except per share amounts) GREAT PLAINS ENERGY Operating revenues
More informationFOURTH QUARTER AND FULL-YEAR 2016 RESULTS. February 24, 2017
FOURTH QUARTER AND FULL-YEAR 2016 RESULTS February 24, 2017 FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains forward-looking statements based on current expectations,
More informationBoston & New York Investor Meetings October 5 & 6, 2015
Boston & New York Investor Meetings October 5 & 6, 2015 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements within the
More informationAEP REPORTS 2011 FIRST-QUARTER EARNINGS
MEDIA CONTACT: ANALYSTS CONTACT: Pat D. Hemlepp Bette Jo Rozsa Director, Corporate Media Relations Managing Director, Investor Relations 614/716-1620 614/716-2840 FOR IMMEDIATE RELEASE AEP REPORTS 2011
More information4 th Quarter 2017 Earnings Release Presentation
4 th Quarter 2017 Earnings Release Presentation January 25, 2018 1 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements
More informationSafe Harbor Statement under the Private Securities Litigation Reform Act of 1995
2016 Power & Gas Leaders Conference Bank of America Merrill Lynch Boston, MA September 15, 2016 1 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains
More informationFOURTH QUARTER AND FULL-YEAR 2018 RESULTS. February 22, 2019
FOURTH QUARTER AND FULL-YEAR 208 RESULTS February 22, 209 FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains forward-looking statements based on current expectations,
More informationAEP REPORTS STRONG 2013 FOURTH-QUARTER AND YEAR-END EARNINGS; COMPLETES OHIO CORPORATE SEPARATION
MEDIA CONTACT: ANALYSTS CONTACT: Melissa McHenry Bette Jo Rozsa Director, External Communications Managing Director, Investor Relations 614/716-1120 614/716-2840 FOR IMMEDIATE RELEASE AEP REPORTS STRONG
More informationAmeren Announces 2012 Results Issues 2013 Earnings Guidance
1901 Chouteau Avenue :St. Louis, MO 63103: Ameren.com Contacts Media Brian Bretsch 314.554.4135 bbretsch@ameren.com Analysts Doug Fischer Matt Thayer 314.554.4859 314.554.3151 dfischer@ameren.com mthayer@ameren.com
More informationPPL Corporation 3 rd Quarter Earnings. November 4, 2014
PPL Corporation 3 rd Quarter Earnings November 4, 2014 PPL Corporation 2014 Cautionary Statements and Factors That May Affect Future Results Any statements made in this presentation about future operating
More informationEarnings Conference Call Third Quarter 2018 November 8, 2018
Earnings Conference Call Third Quarter 2018 November 8, 2018 02 Safe Harbor Some of the matters discussed in this news release may contain forward-looking statements that are subject to certain risks,
More informationThe following items were excluded from the second quarter and first six months of 2015 and 2014 core earnings, as applicable:
Media Releases Ameren (NYSE: AEE) Announces Second Quarter 2015 Results Second Quarter Core (Non GAAP) Earnings Per Share Were $0.58 in 2015, Compared with $0.62 in 2014, Primarily Reflecting Milder Temperatures
More informationFOURTH QUARTER AND FULL-YEAR 2017 RESULTS. February 23, 2018
FOURTH QUARTER AND FULL-YEAR 2017 RESULTS February 23, 2018 FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains forward-looking statements based on current expectations,
More informationSouthern Company. 4th Quarter 2009 Earnings. December 31, 2009
Southern Company 4th Quarter 2009 Earnings December 31, 2009 Contents Press Release 1 Financial Highlights 4 Significant Factors Impacting EPS 4 EPS Earnings Analysis 5 Consolidated Earnings 6 Kilowatt-Hour
More informationFIRST QUARTER 2016 RESULTS. April 29, 2016
FIRST QUARTER 2016 RESULTS April 29, 2016 FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains forward-looking statements based on current expectations, including statements
More informationInvestor Fact Book. March 2018
Investor Fact Book March 2018 Safe Harbor This presentation contains statements that may be considered forward looking statements, such as management s expectations of financial objectives and projections,
More informationSouthern Company. 2nd Quarter 2018 Earnings. June 30, 2018
Southern Company 2nd Quarter 2018 Earnings 30, 2018 Contents Press Release Page 1 Financial Highlights Page 5 Significant Factors Impacting EPS Page 7 EPS Earnings Analysis Page 9 Consolidated Earnings
More informationNew York Investor Meetings
New York Investor Meetings May 10, 2016 Safe Harbor Except for the historical statements contained in this release, the matters discussed herein, are forwardlooking statements that are subject to certain
More informationAmeren Announces 2014 Results and Issues Earnings Guidance
NEWS RELEASE 1901 Chouteau Avenue: St. Louis, MO 63103: Ameren.com Contacts Media Joe Muehlenkamp 314.554.4135 jmuehlenkamp@ameren.com Analysts Doug Fischer 314.554.4859 dfischer@ameren.com Investors Investor
More informationPortland General Electric
Exhibit 99.2 Portland General Electric Earnings Conference Call Third Quarter 2018 Cautionary Statement Information Current as of October 26, 2018 Except as expressly noted, the information in this presentation
More informationCiti Power, Gas & Utilities Conference
Citi Power, Gas & Utilities Conference June 5-6, 2008 1 Cautionary Statements Regulation G Statement Ameren has presented certain information in this presentation on a diluted cents per share basis. These
More informationSECOND QUARTER 2017 RESULTS. August 3, 2017
SECOND QUARTER 2017 RESULTS August 3, 2017 FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation contains forward-looking statements based on current expectations, including statements
More informationPortland General Electric
Portland General Electric Earnings Conference Call First Quarter 2018 Cautionary Statement Information Current as of April 27, 2018 Except as expressly noted, the information in this presentation is current
More informationEarnings Conference Call
Exhibit 99.2 Earnings Conference Call Second Quarter 2015 Cautionary Statement Information Current as of July28, 2015 Except as expressly noted, the information in this presentation is current as of July28,
More informationBank of America Merrill Lynch Power & Gas Leaders Conference. September 16, 2014 Boston, MA
Bank of America Merrill Lynch Power & Gas Leaders Conference September 16, 2014 Boston, MA Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking
More informationGreat Plains Energy Incorporated
PROSPECTUS Great Plains Energy Incorporated Dividend Reinvestment and Direct Stock Purchase Plan 628,484 Shares of Common Stock (Without Par Value) Great Plains Energy Incorporated ( Great Plains Energy
More informationSEPTEMBER 2017 INVESTOR MEETINGS SEPTEMBER 14, 2017
SEPTEMBER 2017 INVESTOR MEETINGS SEPTEMBER 14, 2017 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements within the meaning
More informationDEUTSCHE 2017 CLEAN TECH, UTILITIES & POWER CONFERENCE
DEUTSCHE 2017 CLEAN TECH, UTILITIES & POWER CONFERENCE New York May 16, 2017 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking
More information48 th EEI Financial Conference Presentation Nick Akins President & Chief Executive Officer
48 th EEI Financial Conference Presentation Nick Akins President & Chief Executive Officer November 12, 2013 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation
More informationPSEG ANNOUNCES 2017 FIRST QUARTER RESULTS $0.22 PER SHARE OF NET INCOME. Non-GAAP Operating Earnings of $0.92 Per Share
For further information, contact: Investor News NYSE: PEG Kathleen A. Lally, Vice President Investor Relations Phone: 973-430-6565 Carlotta Chan, Manager - Investor Relations Phone: 973-430-6596 PSEG ANNOUNCES
More informationNovember 6, Financial Update 3 rd Quarter 1
November 6, 2014 Financial Update 3 rd Quarter 1 Disclaimer All statements in this presentation other than historical facts are forward-looking statements that involve risks and uncertainties which are
More informationMerger Plus. Robert S. Shapard Executive Vice President & CFO UBS Natural Gas & Electric Utilities Conference New York City February 17, 2005
Merger Plus Robert S. Shapard Executive Vice President & CFO UBS Natural Gas & Electric Utilities Conference New York City February 17, 2005 Safe Harbor Language This presentation includes forward-looking
More informationFOURTH-QUARTER SUMMARY
For Immediate Release Feb. 23, 2010 Reports Solid 2009 Earnings Choice Power posts strong year; PNM utility results improve Management to discuss 2010 earnings outlook during conference call today FOURTH-QUARTER
More informationAEP REPORTS STRONG 2018 FOURTH-QUARTER AND YEAR-END EARNINGS
MEDIA CONTACT: ANALYSTS CONTACT: Melissa McHenry Bette Jo Rozsa Director, External Communications Managing Director, Investor Relations 614/716-1120 614/716-2840 FOR IMMEDIATE RELEASE AEP REPORTS STRONG
More informationCautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements Southern Company s 2014 Summary Annual Report contains forward-looking statements. Forward-looking statements include, among other things, statements
More informationPSEG ANNOUNCES 2017 THIRD QUARTER RESULTS. Net Income of $0.78 Per Share. Non-GAAP Operating Earnings of $0.82 Per Share
For further information, contact: Investor News NYSE: PEG Kathleen A. Lally, Vice President Investor Relations Phone: 973-430-6565 Carlotta Chan, Manager - Investor Relations Phone: 973-430-6596 PSEG ANNOUNCES
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 8-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event
More informationXcel Energy Fixed Income Meetings
Xcel Energy Fixed Income Meetings February 1-2, 2016 Safe Harbor Except for the historical statements contained in this release, the matters discussed herein, are forwardlooking statements that are subject
More informationEarnings Conference Call. Fourth Quarter and Full Year 2014
Earnings Conference Call Fourth Quarter and Full Year 2014 Cautionary Statement Information Current as of February 13, 2015 Except as expressly noted, the information in this presentation is current as
More informationEvercore ISI Utility CEO Retreat
Top of Mind Why Invest? Investment Upsides Partners Regulatory Passion to Improve Evercore ISI Utility CEO Retreat January 8-9, 2015 Ludington Pumped Storage Jackson Ray Compressor Gas Plant Station Cross
More informationBank of America Energy & Power Conference November 16, 2004
Bank of America Energy & Power Conference November 16, 2004 Forward-Looking Statements This document may contain forward-looking statements within the meaning of the safe harbor of the Private Securities
More informationAmerican Gas Association Financial Forum
American Gas Association Financial Forum May 2008 1 Warner Baxter Executive Vice President & Chief Financial Officer 2 Cautionary Statements Regulation G Statement Ameren has presented certain information
More informationSECURITIES AND EXCHANGE COMMISSION FORM 8-K. Current report filing
SECURITIES AND EXCHANGE COMMISSION FORM 8-K Current report filing Filing Date: 2012-11-09 Period of Report: 2012-11-09 SEC Accession No. 0001193125-12-461862 (HTML Version on secdatabase.com) AMEREN CORP
More informationPortland General Electric
Portland General Electric Earnings Conference Call Fourth Quarter and Full-Year 2017 Cautionary Statement Information Current as of February 16, 2018 Except as expressly noted, the information in this
More informationProgress Energy announces 2011 results and 2012 earnings guidance
Progress Energy announces 2011 results and 2012 earnings guidance Highlights: Full Year 2011 Reports 2011 GAAP earnings of $1.94 per share, compared to $2.95 per share in 2010, primarily due to a $0.60
More informationEarnings Conference Call. First Quarter 2013 April 30, 2013
Earnings Conference Call First Quarter 2013 April 30, 2013 Cautionary Statements And Risk Factors That May Affect Future Results Any statements made herein about future operating and/or financial results
More informationPPL Corporation 2 nd Quarter Earnings. July 31, 2014
PPL Corporation 2 nd Quarter Earnings July 31, 2014 PPL Corporation 2014 Cautionary Statements and Factors That May Affect Future Results Any statements made in this presentation about future operating
More informationSouthern Company Conference Call. May 21, 2018
Southern Company Conference Call May 21, 2018 Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements which are made pursuant to safe harbor provisions
More informationPortland General Electric
Portland General Electric Earnings Conference Call Fourth Quarter and Full Year 2016 Cautionary Statement Information Current as of February 17, 2017 Except as expressly noted, the information in this
More information1 st Quarter 2017 Earnings Release Kit
1 st Quarter 2017 Earnings Release Kit Table of Contents IMPORTANT NOTES TO INVESTORS... 3 EARNINGS RELEASE AND ACCOMPANYING SCHEDULES... 4 CONSOLIDATED STATEMENTS OF INCOME (GAAP)... 7 SCHEDULE 1 - SEGMENT
More informationQ4/17 Analyst Conference Call
Q4/17 Analyst Conference Call Brian Vaasjo, President & CEO Bryan DeNeve, SVP Finance & CFO February 16, 2018 capitalpower.com Forward-looking information Cautionary statement Certain information in this
More informationEnergy Ventures Analysis, Inc.
Energy Ventures Analysis, Inc. MAIN OFFICE: 1901 N. MOORE STREET, SUITE 1200 ARLINGTON, VIRGINIA 22209-1706 PHONE: 703-276-8900 COALCAST FAX: 703-276-9541 FUELCAST Prepared by: Thomas Hewson, Principal
More informationEL PASO ELECTRIC. Jefferies Marketing Tour June 2012
EL PASO ELECTIC Jefferies Marketing Tour June 2012 Safe Harbor Statement Statements in this presentation, other than statements of historical information, are forward-looking statements that are made pursuant
More informationProjected Impact of Changing Conditions on the Power Sector
BPC Modeling Results: Projected Impact of Changing Conditions on the Power Sector From the Staff of the Bipartisan Policy Center July 2012 AUTHORS Jennifer Macedonia, Senior Advisor Colleen Kelly, Policy
More informationProjected Impact of Changing Conditions on the Power Sector
Projected Impact of Changing Conditions on the Power Sector JENNI FER MA CEDONI A JULY 19, 212 July 19, 212 2 Power sector transition driven by many factors Flattening electric demand Expanding renewable
More informationWe have the. energy to make things better for you, for our investors and for our stakeholders.
We have the energy to make things better for you, for our investors and for our stakeholders. 1 Forward-Looking Statements Certain of the matters discussed in this report about our and our subsidiaries'
More information614/ / FOR IMMEDIATE RELEASE
MEDIA CONTACT: ANALYSTS CONTACT: Melissa McHenry Julie Sloat Manager, Corporate Media Relations Vice President, Investor Relations 614/716-1120 614/716-2885 FOR IMMEDIATE RELEASE AEP REPORTS 2004 THIRD-QUARTER
More informationAMEREN CORP. 10 Q Quarterly report pursuant to sections 13 or 15(d) Filed on 11/8/2010 Filed Period 9/30/2010
AMEREN CORP 10 Q Quarterly report pursuant to sections 13 or 15(d) Filed on 11/8/2010 Filed Period 9/30/2010 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10 Q Quarterly
More informationPortland General Electric
Portland General Electric Earnings Conference Call First Quarter 2017 Cautionary Statement Information Current as of April 27, 2017 Except as expressly noted, the information in this presentation is current
More informationPublic Service Enterprise Group
Public Service Enterprise Group PSEG Earnings Conference Call 1 st Quarter 2018 April 30, 2018 Forward-Looking Statements Certain of the matters discussed in this presentation about our and our subsidiaries
More informationTHE EMPIRE DISTRICT ELECTRIC COMPANY DECLARES QUARTERLY DIVIDEND; REPORTS 2015 EARNINGS; PROVIDES 2016 EARNINGS GUIDANCE
PRESS RELEASE THE EMPIRE DISTRICT ELECTRIC COMPANY DECLARES QUARTERLY DIVIDEND; REPORTS 2015 EARNINGS; PROVIDES 2016 EARNINGS GUIDANCE JOPLIN, MO, February 4, 2016 (NYSE:EDE) At the Board of Directors
More informationEVERCORE ISI UTILITY CEO RETREAT. January 12 & 13, 2017
EVERCORE ISI UTILITY CEO RETREAT January 12 & 13, 2017 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements within the
More informationPSEG ANNOUNCES 2018 RESULTS NET INCOME OF $2.83 PER SHARE NON-GAAP OPERATING EARNINGS OF $3.12 PER SHARE
For further information, contact: Investor News NYSE: PEG Carlotta Chan, Senior Director Investor Relations Phone: 973-430-6565 Brian Reighn, Manager Investor Relations Phone: 973-430-6596 PSEG ANNOUNCES
More informationUBS Natural Gas, Electric Power and MLP Conference Handout. Dallas, TX March 5, 2013
UBS Natural Gas, Electric Power and MLP Conference Handout Dallas, TX March 5, 2013 1 Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking
More informationMidwest Investor Roadshow June 23-25, 2009
Midwest Investor Roadshow June 23-25, 2009 Cautionary Statements And Factors That May Affect Future Results Any statements made in this presentation about future operating results or other future events
More informationFocused on Energy Delivery, Positioned to Execute
Focused on Energy Delivery, Positioned to Execute Introduction to CenterPoint Energy March 2018 For more information visit centerpointenergy.com Our 2016 Corporate Responsibility Report can be found at
More informationSouthern Company. 3rd Quarter 2003 Earnings. September 30, 2003
Southern Company 3rd Quarter 2003 Earnings September 30, 2003 Contents Press Release 1 Business Outlook 4 Financial Highlights 8 Factors Affecting Earnings 8 Analysis of Consolidated Earnings 9 Kilowatt
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 10-Q
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended
More information